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Transforming a Midwestern FBO: Success Story of Automation and Integration

This case study details the successful transformation of a Midwestern Fixed Based Operator (FBO) with annual revenues of $7 million, offering diverse services like executive charter, air ambulance, flight school, and more. Faced with challenges such as merging corporate structures and automating operations, expert recommendations led to the implementation of accounting systems and the automation of sales activities across various service lines. With both short- and long-term solutions in place, the FBO can now evaluate profitability and streamline operations, ensuring sustainable growth.

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Transforming a Midwestern FBO: Success Story of Automation and Integration

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Presentation Transcript

  1. Return to Home Page Success StoryA General Aviation &Fixed Based Operator

  2. Return to Home Page Success StoryA Fixed Based Operator ... The following study was done for a Midwestern USA Fixed Based Operator (FBO): • Company BIO • Annual Revenues: $7 million • Multiple Transportation Products • Executive Charter (Passenger & Freight) • Air Ambulance • Flight School • Aircraft Maintenance • Office/Hangar Rental • Aircraft sales and brokering • Ground Services: Fuel, Parts, Deicing, and Catering

  3. Return to Home Page Success StoryA Fixed Based Operator ... • Challenges: • Merge FBO purchase into corporate operating unit • FBO/General Aviation purchase – new venture for parent Airline • Corporate structure -- new environment for FBO management • Automate manual/paper operations • Convert hand written invoices, work orders and other customer documents to system generated • Replace manually prepared ledgers to an accounting system • Provide decision making information tools

  4. Return to Home Page Success StoryA Fixed Based Operator ... • Problem definition • Lack of management expertise: • Integrating company infrastructures • Using or evaluating system automation benefits • Lack of automation: • Paper/cash register inputs for all monetary and tracking activities impaired timeliness & accuracy of operating performance • Accounting/finance department focused on processing rather than controls and and decision making tools • Planning was not supported with data

  5. Return to Home Page Success StoryA Fixed Based Operator ... • Experts were hired to • Evaluate the current situation • Provide facts • Recommend actions • Implement recommendations

  6. Return to Home Page Success StoryA Fixed Based Operator ... • Short term solutions implemented • Implemented parent company’s accounting and budget systems • Developed and implemented fixed asset tracking system • Created asset acquisition model to evaluate major purchases using discounted cash flows and “buy versus lease” scenarios • Implemented inter-company process to manage financial activities between the FBO and parent

  7. Return to Home Page Success StoryA Fixed Based Operator ... • Long term solutions implemented • Evaluated various point-of-sale FBO systems • Selected and implemented system to replace parent’s accounting and budget system • Converted manual accounting processes to new system • Automated customer sales activities: Retail, Aircraft Maintenance, Executive Charter, Flight School & Aircraft Sales

  8. Return to Home Page Success StoryA Fixed Based Operator ... • Long term solutions proposed • Automate accounting interface between FBO and parent • Develop Profitability model: • Performance evaluations on lines of service • “What If ” evaluations: • Budgeting and Forecasting • Major sales events

  9. Return to Home Page Success StoryA Fixed Based Operator ... • Implemented point-of-sale system for all products • Developed models to support accounting, financial analysis and joint FBO/customer investment decisions • Established budget for performance reporting and forecasting

  10. Return to Home Page Goss & Associates Facsimile : 317-213-3757 Email: joseph.goss@gmail.com

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